SHINE Achieves Major Milestone on Path to Construction Permit Approval

October 26, 2015 – Monona, WI – SHINE Medical Technologies, Inc., a Wisconsin-based company dedicated to being the world leader in the safe, clean, affordable production of medical tracers and cancer treatment elements, announced today that the staff of its primary regulator, the Nuclear Regulatory Commission (NRC), has completed their safety and environmental reviews and recommends approval of a Construction Permit for the SHINE facility. SHINE is the first U.S. medical isotope producer to have reached this stage of the NRC permitting process since the 1960s.

The review process culminated in the issuance of three documents, each concluding that the SHINE medical isotope production facility is safe to construct and recommending that SHINE be issued a Construction Permit. SHINE now enters the final stage of the construction permitting process, which includes a hearing with the NRC Commissioners.

“This is the first time in over fifty years a medical isotope plant has been recommended for a construction permit.” said Greg Piefer, CEO of SHINE. “We’ve developed a greener, safer, and cheaper way to produce these isotopes on a global scale. Specifically, these documents are the conclusion of more than four years of hard work and deliberation by both the NRC staff and SHINE. We are tremendously proud to have earned the recommendation of one of the world’s most highly-respected regulators. Safety and environmental responsibility are top priorities at SHINE and this milestone with the NRC validates our dedication to those values.”

The three documents recommending approval of the SHINE Construction Permit are the:

Safety Evaluation Report, which documents the NRC staff’s technical review and ensures the design of the SHINE facility includes adequate margin of safety, provides for the prevention of accidents and meets applicable regulatory requirements.

Once built, SHINE’s manufacturing plant will fulfill more than a quarter of the world’s need for the most commonly-used medical isotope in the world, molybdenum-99. It will be located in Janesville, WI and employ 150 people.